protecting against cyber attacks: Insights from Horizon3.ai Study
Letztes Update: 14. Juni 2024
A new study by Horizon3.ai reveals that 60% of companies in the DACH region have faced cyber attacks in the past two years. Despite efforts, many remain vulnerable, with significant financial and operational impacts reported. Regular penetration testing is advised to improve cyber resilience.
Protecting Against Cyber Attacks: New Study Unveils Alarming Trends
In the ever-evolving landscape of cybersecurity, a recent study has shed light on some alarming trends that businesses in the DACH region (Germany, Austria, and Switzerland) need to be aware of. According to the "Cyber Security Report DACH 2024" by Horizon3.ai, about 60 percent of companies in this region have been victims of cyberattacks at least once in the past two years. This statistic alone underscores the urgent need for robust strategies in protecting against cyber attacks.
The Scope of the Problem
The study, which surveyed 300 companies, revealed that more than a third (37 percent) reported a specific incident of damage due to a cyberattack. Another 23 percent detected an attack but claimed to have successfully thwarted it. Astonishingly, 28 percent of the companies were unsure if they had been attacked, and only 12 percent were confident that they had not been targeted. These figures highlight a significant gap in awareness and preparedness among businesses.
Multiple Attacks on the Rise
Nearly a quarter of the companies (23 percent) experienced three or more attacks within the two-year period, with an additional 12 percent facing even more frequent assaults. Another 18 percent were attacked twice, and 11 percent once. Rainer M. Richter, the Europe and Asia head of Horizon3.ai, suggests that the actual numbers could be much higher. He points out that with approximately 70 new software vulnerabilities discovered daily, many companies have lost track of their true vulnerability and the frequency of attacks.
Consequences of Cyber Attacks
The repercussions of these cyberattacks are far-reaching. According to the report, 63 percent of the affected companies experienced downtime, 42 percent suffered financial losses, 36 percent faced legal consequences, and 34 percent had data stolen. Additionally, 29 percent received ransom demands to unlock encrypted data. These statistics paint a grim picture of the impact of cyberattacks on businesses.
Legal and Financial Ramifications
Rainer M. Richter emphasizes that many executives and IT leaders are unaware of the personal liability they could face if a cyberattack leads to significant damage. In such cases, it is up to them to prove that they took all possible measures to prevent the theft of sensitive customer data. This lack of awareness and preparedness among leadership is a critical issue that needs immediate attention.
Leadership's Role in Cybersecurity
The survey participants were predominantly in responsible positions within their companies: Chief Information Security Officer (23 percent), IT Team Leader (21 percent), Chief Information Officer (18 percent), Chief Technology Officer (13 percent), and System Administrator (7 percent). Despite their roles, half of these leaders do not believe they would be held accountable for potential damages. This widespread naivety among leadership regarding cyber risks is concerning.
Urgent Need for Proactive Measures
Richter warns that the business community must urgently address cybersecurity. With attack waves becoming faster and more aggressive due to artificial intelligence, and the increasing number of devices connecting to corporate networks through remote work and the Internet of Things, the gap between threat levels and protection measures is widening. He advises companies to frequently conduct penetration tests to continuously assess their cyber resilience.
Penetration Testing as a Key Strategy
Penetration testing, or pentesting, involves a company-commissioned attack on its own systems to identify security vulnerabilities. The European banking sector regularly conducts such tests, known as "stress tests," to evaluate their defenses against cyberattacks. Richter recommends that executives and IT leaders in all industries subject their companies to similar tests regularly. Horizon3.ai offers a platform called NodeZero, which makes these tests affordable for medium-sized businesses.
About Horizon3.ai and NodeZero
Horizon3.ai provides a cloud-based platform, NodeZero, which enables companies and government agencies to perform self-attacks on their IT infrastructure to assess their cyber resilience. The cloud-based approach keeps costs low, making regular pentesting accessible even for medium-sized companies. Horizon3.ai continuously monitors the cybercrime landscape to immediately address emerging vulnerabilities through the cloud. NodeZero not only identifies security gaps but also provides specific recommendations for remediation.
In conclusion, the "Cyber Security Report DACH 2024" highlights the critical need for businesses to enhance their strategies for protecting against cyber attacks. With the increasing frequency and sophistication of cyber threats, companies must prioritize regular penetration testing and raise awareness among leadership about the potential legal and financial ramifications of cyber incidents. By taking proactive measures, businesses can better safeguard their operations and data from the ever-present threat of cyberattacks.
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